Actionable: Buy Titan, Cadila Healthcare, Persistent systems.

Insight Online News

From Advisory Desk : Vikash Sahay

31st December 2021

Market Outlook: Dow Jones and S&P 500 indices ended lower after hitting intraday record highs despite strong economic data. Most of the global markets were closed on account of new year holidays. SGX Nifty is indicating a flat opening. Nifty Dec-Jan rollovers at 79% which is linine with three months average. Yesterday, Nifty witnessed another range bound session due to lack of positive triggers. We expect markets may remain in range bound however stock action will be in momentum. Auto stocks will be in lime light ahead monthly sales numbers.

Actionable: Buy Titan, Cadila Healthcare, Persistent systems.

INITIATING COVERAGE: INDIGO PAINTS | Colorful prospects (INDIGOPN IN, Mkt Cap USD1.2b, CMP INR1942, TP INR2270, 17% Upside, Buy)

IPO listing: CMS Info Systems  shares to start trading in exchanges today after oversubscribed by 2 times.

Global market:
DOW:  -90
SGX NIFTY:   +5  (prev.close 17295)
NIFTY 50 : 17203
Sensex : 57794

Institution:
FII:                    -986 Cr
DII:                   +578 Cr

NSE:
Advances: 1785 / Declines: 1584

Currency:
Dollar: $ 74.41
Dollar Index: 95.98

Commodity:
Gold: $1816  per ounce
Crude: $78.85  per barrel

Bonds:
10 year US bond rate: 1.51
10 year Indian Bond rate: 6.47

Derivative:
PCR: 1.00
VIX:  16.56

Updates:

IDFC & IDFC First Bank: IDFC First Bank’s board of directors gives in-principle nod to merge with IDFC Ltd and IDFC holding company subject to approvals. Board has constituted and authorized committee for this purpose.

Reliance Industries: Reliance New energy solar has signed definitive agreements to acquire 100% stake in Faradion Ltd, A leading global sodium-ion battery technology company, for an enterprise value of GBP100 Mn. RNESL will also invest GBP25 Mn as growth capital to accelerate commercial rollout.

Securities in Ban: Nil.

Derivative View : VIX closed at 16.56. Immediate max Put OI is at 17200 then 17000. Max Call OI is at 17500 then 17400. Option data suggests a trading range between 17000 to 17500.

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